Korea's LG Electronics sets guidance for $400 million five-year bonds at Treasuries plus 130-135 bps

By Reshmi Basu

New York, June 9 - LG Electronics set price guidance for a revived offering of $400 million of five-year bonds (Baa3/BBB-) at Treasuries plus 130 to 135 basis points, according to market source.

On May 12 LG Electronics delayed its $600 million dual-tranche offering of $300 million five-year and $300 million 10-year bonds due to market volatility.

Citigroup, Credit Suisse First Boston, Lehman Brothers and Korea Development Bank are running the Rule 144A/Regulation S issue, which has no registration rights.

Pricing is expected at the end of the week.

The company is a Seoul-based electronics maker.

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